Solid Investment Opportunities, LeDroit Park
LeDroit Park is still rife with fairly priced solid investment opportunities. Check out this four (4) story row house with a potential money-making, rentable lower level apartment, located at 2210 Flagler St. NW in the heart of this iconic neighborhood.
As one of the first suburbs of Washington, LeDroit Park was developed and marketed as a “romantic” neighborhood with narrow tree-lined streets that bore the same names as the trees that shaded them, differing from the street names used in the rest of the city. Extensive focus was placed on the landscaping, which is still evident today, and contributes heavily to the charm of this locale.
Originally built in 1909, this particular property boasts four (4) bedrooms, four-and-a-half (4.5) bathrooms and twenty one hundred (2,100) square feet of livable space. It has been expanded and totally renovated and features tons of natural lighting; bedroom suites on both upper levels; gourmet kitchen with top-of-the-line appliances; totally rentable lower level with separate entrance (see Cribline Math analysis below for detailed breakdown); easy on-street parking in addition to a paved driveway, but you might not even need to use it.
Its location, convenient to restaurants, shops, bikeshares, two Metro stops, Big Bear Coffee Bar, Boundary Stone and the Red Hen, has garnered a very solid Walk Score of nearly 90. Who needs a car?
There is an open house this Sunday, December 3rd, from 1:00PM-3:00PM. Come check it out for yourself!
It’s just on the market for $1,299,000. See how much this will cost per month in the Cribline math analysis below:
Cribline Math Analysis:
With 20 percent down on $1,299,000 of $259,800, the mortgage amount would be $1,039,200. At an estimated 4 percent interest rate fixed for 30 years the gross payment would be about $6,100 per month. If you were to rent out the lower level apartment, fully furnished, for $2,000 per month, that would reduce the gross payment to $5,100 per month. After tax deductions, the net payment would be about $3,570 per month.
Happy Hunting for fairly priced solid investment opportunities like this!